Introduction
over the years are facing challenges on both internal and external work environment, organizations therefore cannot maintain institutional performance without providing incentives to their employees based on their effective and efficient role. Like other organizations facing many challenges under globalization, especially in terms of providing incentives to employees, there is need for organizations to formulate an integrated system of incentives to commensurate with development of works to serve general objectives of increasing knowledge, reduction of cost, providing high quality services, achieving competitive share amidst several organizations in the country. The problem identify in this study is to know the extent organisation s implement incentive programs to staffs. The following questions will therefore be answered by this study:
What is the level of financial and moral incentives provided to staffs in the Nigerian Universities and
what is the level of performance in the Nigerian universities?
This study aims to identify the reality and the role of the Nigerian universities in meeting societal needs of the employees, to know the implemented incentives programs in Nigerian universities. Others include,
identifying financial incentives adopted in the organizations and to know the level of performance in the organisations. The importance of this study is to know the role universities plays in the society.
Literature Review
Financial Incentives are designed to encourage performance of employees regardless of the form of incentives. It plays an important role in promoting employees’ capacity and moving abilities, motivating them to develop their skills, abilities and balance between organization requirements and the individuals' needs which improve the organization performance effectively and efficiently. The concept of financial incentives Financial incentives may mean the amounts paid to employees, either in the form of a lumpsum or in the form of monthly payments or in any other form which serves as additional income to an employee. It is considered the oldest forms of incentives which is characterized by quick and immediate form that make employee feel of an immediate feedback of their effort in meeting the organizational goal. Lawzi [1] defined financial incentives as a set which may satisfy basic human needs, encourage employee to do their best, and increase the level of their competences such as through prompt payment of salary, bonuses, allowances, profit sharing and rewards. Jadallah [2] also defined financial incentives as any form of payment based on increased and or improved productivity, as a result the employee earns more as they produce. While the fall in quantitative or qualitative production deny the worker from earning partial or total incentives, financial incentives on the other hand try to raise productivity and improve performance through encouraging employee to behave in a desired and prescribed manner in order to achieve organizational goal. The most influential factor that may raise the need of workers to work is financial incentives which may be in form of wages, are appropriate and capable of satisfying employees need. On the contrary, low payment that is not appropriate to his efforts of work may lead to the low efficiency of productivity.
Development of Incentive Theory to Explain Human Behavior
Incentive theory began to emerge during the 1940s and 1950s, building on the earlier drive theories established by psychologists such as Clark Hull.
can probably think of many different situations where your behavior was directly influenced by the promise of a reward or punishment. Perhaps you studied for an exam in order to get a good grade, ran a marathon in order to receive recognition, or took a new position at work in order to get a raise. All of these actions were influenced by an incentive to gain something in return for your efforts.
How Does Incentive Theory Work?
In contrast with other theories that suggest we are pushed into action by internal drives (such as the drive-reduction theory of motivation, arousal theory, and instinct theory), incentive theory instead suggests that we are pulled into action by outside incentives.
motivates behavior. In many cases, these external rewards can motivate you to do things that you might otherwise avoid such as chores, work, and other tasks you might find unpleasant.
Observations About Incentive Theory:
Incentives can be used to get people to engage in certain behaviors, but they can also be used to get people to stop performing certain actions.
Incentives only become powerful if the individual places importance on the reward.
Rewards have to be obtainable in order to be motivating. For example, a student will not be motivated to earn a top grade on an exam if the assignment is so difficult that it is not realistically achievable.
Why Some Incentives Are More Motivating Than Others
Obviously, not all incentives are created equal and the rewards that you find motivating might not be enough to inspire another person to take action. Physiological, social, and cognitive factors can all play a role in what incentives you find motivating.
For example, you are more likely to be motivated by food when you are actually hungry versus when you are full. A teenage boy might be motivated to clean his room by the promise of a coveted video game while another person would find such a game completely unappealing.
"The value of an incentive can change over time and in different situations," notes author Stephen L. Franzoi in his text Psychology: A Discovery Experience. "For example, gaining praise from your parents may have positive incentive value for you in some situations, but not in others. When you are home, your parents' praise may be a positive incentive. However, when your friends visit, you may go out of your way to avoid receiving parental praise, because your friends may tease you."
A Word From Verywell
Consider what motivates you as you work on your goals. Are you trying to gain an incentive or are you trying to avoid a negative consequence? Understanding the forces behind your actions can help you determine how to best motivate yourself to reach your goals.
Theoretical Review.
The principal reason for workers financial incentives is to satisfy their need and productivity of the work done.. Each of the following separate theories discussed shades light on some of employees and productivity.
Theory X and Theory Y.
Douglas McGregor proposed two distinct views of human being; one basically negative, labelled Theory X and the other labelled positive, Theory Y. Theory X assumes that lower-order needs dominate individuals. Theory Y assumes that higher-order needs dominate individuals. McGregor himself held to believe that Theory Y assumption were more solid than Theory X. Therefore he proposed such ideas as participative decision making, responsible and challenging job and good groups’ relation as approaches that would maximize on employees’ motivation. Managers view of their nature of human being are based on the following assumptions.
Under Theory X
Employees inherently dislike work and whenever possible, will attempt to avoid it. Since they dislike work, they must be threatened with punishment to achieve goals. Employees will avoid responsibilities and formal direction whenever possible. Most workers place security above all other factors associated with work and will display little ambition.
Under Theory Y.
Employees can view work as being natural as rest or play. People will exercise self-direction and self-control if they are committed to the objectives. The average person can learn to accept, even seek responsibility. The ability to make innovative decision is widely dispersed through the population and is not necessarily the sole province of those in management positions.
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